Alleged 'cocaine' banker in new bail bid
Raed Cupido and Christopher Carelse appear in court for their bail applications amid serious drug and firearm charges.
Image: Mandilakhe Tshwete
‘Cocaine banker’ Raed Cupido is back in court, making his third attempt at bail ahead of his high-profile trial at the Cape Town Regional Court.
Cupido was arrested in June 2025 after police found 15 bricks of cocaine worth an estimated R18 million, along with an AK-103 rifle, Uzi Pro rifle, five semi-automatic firearms, and 130 rounds of ammunition in a storage unit on Roeland Street.
He faces charges of being in possession of drugs and illegal firearms, while his co-accused Christopher Carelse, who was nabbed in July 2025, is alleged to be his accomplice, with the State claiming that they are so-called “first receivers” of drugs being smuggled into the Cape.
Both accused were expected in court on Wednesday, but neither was brought to court.
The suspects rented storage units side by side, Cupido in 869, and Carelse in 868, and this marks Cupido’s third bail application, while Carelse, who has previously had a High Court bail appeal denied, is bringing another application.
During Cupido's second bail application, he said his rights were violated and that the search of the unit was done without a search warrant, as the search of unit 868 was unlawful and therefore the State has no case, and he should be granted bail.
The court heard that both accused had to be re-questioned, and that the bail applications on new facts were postponed to April 17, while the trial is expected to start on May 27.